It is on the outskirts Elizabeth City, NC and zoned for agriculture, and i guess residential.

This is a tough market to be a buyer which means less deals get done.Avondale, Gilbert, queen creek, peoria, cave creek have the strongest drop in CMI (most weakening markets)Market is weakening because supply is finally coming up in those areas“We want demand to stay high and supply come up to meet it” = lots of sales, still a strong market“We like weaker seller markets”Closed SalesClosed sales are in the past, supply and demand tells us where we are goingSales Price vs List Price should come down due to weakening signsIf you look at closed sales measures, we are still a frenzy (homes are still selling OVER list price)Overall 22% annual appreciation rate, 54% closing over list price, still selling at 101.9% of list price3 things you look for in a changing market:Price reductions – started 3 months agoDays on Market going up – started 2 weeks agoIncrease in Concessions – not moved yetConcessionsAlways spike at end of month (before COE)But hasn’t moved yet; should see this rise before market really changesAppreciationMedian sale price ($480,000) went up 2.1% over last month (still strong); up 22.3% over May 2021 ($392,500)Thus, prices are still rising.However, appreciation per s/f has already flattened month over month at $306.11/sf.

Forget about Gilbert and probably Queen Creek and Chandler.  

Hi Elizabeth,Thanks so much for your comments, I really appreciate it!

If you are interested in Lemoore/Hanford area you should listen to BP Podcast 103 w/Elizabeth Colegrove.She lives in that area and is investing in rentals there.http://www.biggerpockets.com/renewsblog/2015/01/01...Good Luck & Much Success!

You are not gonna find Memphis prices, but it's not Queens either.

I live in Queens, NY and I am looking to purchase my first flip or BRRRR!

@Elizabeth Nourse Thanks!

@Elizabeth Faircloth I will be reaching out to you soon thanks so much. 

I am now a Real Estate Agent and I am focusing on working with Investors looking for distressed properties in Long island, Brooklyn, Bronx, Queens....I am here to get tips and network with you all!!